WhatsApp boosting up the digital payment from April.
It is almost eight years passed away since Indians started using the messaging application WhatsApp and now they are pushed up a little to utilize the app for their money transactions. India became familiar with the digital money transactions in recent years with some mobile applications like PayTM, freecharge etc.. But the PayTM is surviving the list of online transaction application for a long time by following the rules of the government of India that which the other applications failed to follow.
After demonetization in the year-end of 2016 in India, the digital transaction method just got blazed out to compensate the direct paper transaction. Google’s TEZ mobile apps and PayTm entered the arena at the time of Demonetization with a backup strength from Alibaba groups. As like PayTm and TEZ, Facebook’s hair WhatsApp stepped in the digital transaction arena in recent times.
The WhatsApp messaging service has turned into an essential need for Indians within few months of its circulation in the market. Literally, the Facebook faced much regression after people started to use the WhatsApp. Now the WhatsApp is all set to release its new update that contains money transaction options in April. Maybe WhatsApp can beat up the PayTm in transferring money by utilizing its enormous existing users.
Any user can attach their account numbers with their WhatsApp number to enter the WhatsApp transaction. When a customer needs to transfer his or her money the WhatsApp request an OTP from the user’s bank account and clear the way for his or her transaction. The WhatsApp decided to make its first trial without any service charge for any of the transaction through it in India, with the support of ICICI Bank, India’s second-largest money lending sector.
Point to be noted: User who is looking for the safest transaction through Whatsapp must need to attach their Aadhar number with their bank accounts. The end time for attaching Aadhar number with bank accounts have been extended to the end of March 2018 by the Indian Government.